On March 7, 2009, Reuters reported that American International Group, Inc., was closing
in on a deal on March 7, 2010, to sell its foreign life insurance unit to MetLife Inc, for about
$15.5 billion in cash and stock, leaving it with a substantial minority stake in MetLife, sources
familiar with the matter said. MetLife is expected to pay American International Group about
$6.8 billion in cash and about $8.7 billion in equity, which includes convertible preferred,
common shares and common equivalent securities, for the unit, American Life Insurance Co
(Alico), one of the sources said [5].